The MicroSectors Gold Miners 3x Leveraged ETN (GDXU) closed up 0.88% at $28.62 on December 23, driven by a modest rise in gold mining stocks, with GDX and GDXJ increasing by 0.44% and 0.51%, respectively. The uptick in gold mining equities comes amid a backdrop of global gold production peaking at 3,250 tonnes next year, as reported by The Northern Miner, suggesting a potential supply constraint that could support prices. Additionally, El Salvador's decision to overturn a seven-year ban on metals mining has sparked interest in the sector, as the country is believed to be sitting on significant unmined gold reserves. This legislative change, pushed by President Nayib Bukele, aims to boost economic growth and has been met with both optimism for economic potential and concern over environmental impacts.